TD Waterhouse Canada Inc. Raises Stake in Brookfield Renewable Partners L.P. $BEP

TD Waterhouse Canada Inc. grew its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 1.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 803,491 shares of the utilities provider’s stock after acquiring an additional 14,553 shares during the period. TD Waterhouse Canada Inc. owned about 0.28% of Brookfield Renewable Partners worth $20,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Hilltop National Bank acquired a new position in shares of Brookfield Renewable Partners during the 2nd quarter valued at about $34,000. Activest Wealth Management purchased a new stake in Brookfield Renewable Partners during the second quarter worth approximately $50,000. Northwestern Mutual Wealth Management Co. boosted its stake in Brookfield Renewable Partners by 136.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,730 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 1,576 shares in the last quarter. Allworth Financial LP grew its position in shares of Brookfield Renewable Partners by 76.7% during the second quarter. Allworth Financial LP now owns 5,300 shares of the utilities provider’s stock worth $135,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Bangor Savings Bank purchased a new position in shares of Brookfield Renewable Partners in the 2nd quarter valued at approximately $153,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $28.60 on Thursday. Brookfield Renewable Partners L.P. has a 52 week low of $19.29 and a 52 week high of $32.72. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.97. The stock has a market cap of $8.12 billion, a P/E ratio of -30.10 and a beta of 1.16. The stock has a 50 day moving average of $27.99 and a 200-day moving average of $26.19.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Wednesday, November 5th. The utilities provider reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.22. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. On average, analysts expect that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be given a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.49 annualized dividend and a dividend yield of 5.2%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -173.26%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BEP shares. Desjardins lifted their price objective on Brookfield Renewable Partners from $42.00 to $46.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. Raymond James Financial restated an “outperform” rating and issued a $35.00 price target on shares of Brookfield Renewable Partners in a report on Wednesday, October 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Brookfield Renewable Partners in a research note on Wednesday, October 8th. Scotiabank reaffirmed an “outperform” rating and set a $35.00 price target (up from $30.00) on shares of Brookfield Renewable Partners in a research report on Thursday, November 6th. Finally, TD Securities raised their price objective on Brookfield Renewable Partners from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Brookfield Renewable Partners Profile

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.